finance

Why Nigeria should Strengthen Mobile Money: Some Stylized Facts

Nigeria continues to miss its financial inclusion targets. Many constraints around the formal banking system have meant that a greater percentage of the Nigerian population remains excluded from the formal financial sector. This article highlights the need to strengthen mobile money as a means of driving financial inclusion in Nigeria. Introduction The financial sector plays […]

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Nigeria Economic Update (Issue 41)

Under the Nigeria Youth Investment Fund (NYIF), the Central Bank of Nigeria (CBN) as part of its development finance initiative in collaboration with the Federal Ministry of Youths and Sports Development has so far released the sum of N3 billion to 7,057 beneficiaries (4,411 individuals and 2,646 SMEs) across the country.1 The NYIF programme, launched […]

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What Could The Mambilla Dam do for Nigeria?

The Mambilla Hydropower project will be a complex of four dams and two underground stations in the eastern Nigerian state of Taraba. The Chinese Export-Import Bank is funding 85% of the US$4.8 billion cost, and when completed, the dam will be Nigeria’s largest power plant at 3,050MW. The project, in development for 55 years, is […]

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Nigeria Economic Update (Issue 38)

he World Bank has approved of $750 million for the Power Sector Recovery Programme (PSRP) through the International Development Association (IDA).1 The disbursement plan to commence in 2021 is as follows: $426 million in 2021 and $162 million in 2022 and 2023, respectively, summing up to $750 million. The recovery plan being set up is […]

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Poverty Alleviation via Education in Nigeria: Lessons from China

In Nigeria, approximately 50% of the estimated 193 million population live in poverty. In 2018, the World Poverty clock estimates that Nigeria has the highest number of people living in extreme poverty. These trends point to the need to rethink and rejig the government’s approach to poverty alleviation. In rethinking Nigeria’s current approach, there are […]

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Nigeria Economic Update (Issue 49)

The ECOWAS single currency proposed to take off in January 2020 seems unlikely1. This is partly due to the failure of member states to meet all the preliminary requirements in the original treaty. Countries like Guinea Bissau and Togo are the ones to meet the primary conditions of a budget deficit of 3% or less, […]

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